Moody’s changes Kirin view to stable

Moody's Investors Service said it changed the outlook on Kirin Holdings Co., Ltd. to stable from negative.

At the same time, the agency affirmed the company's long-term issuer and senior unsecured ratings at A3.

“The change to a stable outlook recognizes the steady improvement in Kirin's leverage, a trend accelerated this year from asset sales," Motoki Yanase, Moody's vice president and senior credit officer, said in a news release.

"Kirin's cash flow from operations comfortably covers its capital expenditure, so the company has the capacity to generate free cash flow to manage its debt.”

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